When it’s not good enough for Wall Street “analysts,” the unsung and often nameless arbiters of everything. Demand for India’s Nano automobile is double supply, but, nevertheless, it’s not good enough.
The company (Tata Motors, which makes the Nano–ed.), which accepted orders for the $2,000 car between April 9 and April 25, said it has received over 200,000 fully paid orders during the period, amounting to nearly 25 billion rupees ($500 million). Tata said it had collected 610,000 application fees of 300 rupees each.
But this was not enough in the eyes of the market.
“Poor response to Nano is a sentiment dampener for the stock,” said analysts at Batlivala & Karani, which has an underperformer rating on the company.
This whole pathology of judging companies based on (someone’s? whose?) expectations, rather than on performance, stinks like limburger cheese.